An anonymous director reports
BARRICK COMPLETES STRATEGIC INVESTMENT IN MIDAS GOLD TO ADVANCE THE STIBNITE GOLD PROJECT, IDAHO
Barrick Gold Corp. has purchased 46,551,731 common shares of Midas Gold Corp. by way of a non-brokered private placement at a price of $1.06 per share for gross proceeds of $38,065,907 (U.S.). As a result of the placement, Barrick owns 19.9 per cent of the issued and outstanding shares of Midas Gold on closing.
Barrick's investment supports Midas Gold's continued efforts to complete a feasibility study and permitting of the Stibnite gold project, a world-class mining operation that can address legacy environmental impacts and generate economic benefits for the local community.
Transaction details
Additional transaction details can be found in Midas Gold's news release dated May 9, 2018, and in Midas Gold's filings on SEDAR.
Advisers
Haywood Securities Inc. acted as financial adviser to Midas Gold. DuMoulin Black LLP acted as Canadian legal counsel to Midas Gold and Davies Ward Phillips & Vineberg LLP acted as Canadian legal counsel to Barrick.
About Midas Gold Corp. and the Stibnite gold project
Midas Gold, through its wholly owned subsidiaries, is focused on the exploration and, if warranted, site restoration and development of gold-antimony-silver deposits in the Stibnite/Yellow Pine district of central Idaho that are encompassed by its Stibnite gold project. The Stibnite gold project, as proposed in the plan of restoration and operations currently being reviewed by regulators, would restore the site, create economic opportunity and benefit the surrounding communities.
About Barrick Gold Corp.
Barrick aims to be the leading mining company focused on gold, creating value by developing and operating high-quality assets in an environmentally responsible way that demonstrates commitment to the local communities.
We seek Safe Harbor.
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